Research On The Relationship Between R&D Investment And Organizational Performance Of High Tech Enterprises In Henan

Enterprise is the main body of economic development,and technological innovation is the internal motive force of enterprise development.In the new economy,many enterprises also faces fierce competition for talent and technology.Ifenterprise can master the core technology,they will stand out in the enterprise competition.For high-tech enterprises,enhancing their core competitiveness depends on the level of scientific and innovationof the products,so the importance of R&D activitiesis self-evident.Twenty-first Century is the era of knowledge economy,high-tech enterprises have advanced technology and a large number of innovative talents,which is the direction of development of many enterprises.The level of R&D investment problems greatly restrict the development of enterprises.So the research on high-tech enterprises in Henan province that R&D investment impact on organizational performance through this paper reveals that the R&D investment has extraordinary significance of high-tech enterprises what promote efforts to increase investment in research and development of high tech enterprises in Henan Province,so as to ensure the healthy and sustainable development of the enterprise.Based on the analysis of the research status at home and abroad,this paper explains the endogenous growth theory,and provides a theoretical basis for the study of the correlation between R&D investment and organizational performance of 30 listed high-tech enterprises in Henan province.Taking 30 listed high-tech enterprises in Henan as the research object,selecting financial data of its annual report 2013-2015 three years of the sample,selection of R&D investment intensity and the proportion of technical personnel as the explanatory variables,Tobin’sQ value and return on equity as explanatory variables,Studying on the relationship between R&D investment and organizational performance of listed high-tech enterprises in Henan Province.The nature of the enterprise,the asset liability ratio will have a certain impact on the results of this study,so choose it as a control variable.According to the above variables to establish regression model,empirical research.The results show that: R&D investment is significantly correlated with the Tobin’sQ value,and there is no inherent relationship between return on equity.This may be because the high R&D investment enterprises can get the recognition of investors and the market,but R&D investment will increase the cost of manpower and equipment,net profit for the current period has a certain impact.The impact of R&D input intensity on organizational performance is lagging,and the proportion of technical staff has no influence on organizational performance.This may be due to the injection of a large amount of capital in the R&D activities,the proportion of human capital investment is small,not enough to affect the future performance of the enterprise.